First Trust Advisors LP Invests $1.26 Million in Wheels Up Experience Inc. (NYSE:UP)

First Trust Advisors LP bought a new position in shares of Wheels Up Experience Inc. (NYSE:UP - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 766,168 shares of the company's stock, valued at approximately $1,264,000. First Trust Advisors LP owned approximately 0.11% of Wheels Up Experience as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of UP. Wells Fargo & Company MN lifted its position in Wheels Up Experience by 49.6% in the fourth quarter. Wells Fargo & Company MN now owns 43,147 shares of the company's stock valued at $71,000 after buying an additional 14,299 shares during the last quarter. SG Americas Securities LLC increased its stake in Wheels Up Experience by 110.7% during the fourth quarter. SG Americas Securities LLC now owns 48,527 shares of the company's stock worth $80,000 after purchasing an additional 25,495 shares during the period. Marshall Wace LLP purchased a new stake in Wheels Up Experience during the fourth quarter worth about $115,000. CIBC Private Wealth Group LLC increased its stake in Wheels Up Experience by 48,303.2% during the fourth quarter. CIBC Private Wealth Group LLC now owns 75,025 shares of the company's stock worth $119,000 after purchasing an additional 74,870 shares during the period. Finally, Barclays PLC increased its stake in Wheels Up Experience by 320.8% during the third quarter. Barclays PLC now owns 127,939 shares of the company's stock worth $309,000 after purchasing an additional 97,532 shares during the period. Institutional investors and hedge funds own 98.20% of the company's stock.

Wheels Up Experience Stock Up 3.6%

NYSE:UP traded up $0.06 on Tuesday, reaching $1.59. 369,266 shares of the company's stock were exchanged, compared to its average volume of 818,014. The business has a fifty day moving average of $1.00 and a 200-day moving average of $1.52. Wheels Up Experience Inc. has a 52-week low of $0.74 and a 52-week high of $4.59. The firm has a market capitalization of $1.11 billion, a price-to-earnings ratio of -3.17 and a beta of 2.35.

Wheels Up Experience (NYSE:UP - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.11) EPS for the quarter. Wheels Up Experience had a negative net margin of 39.97% and a negative return on equity of 796.67%. The firm had revenue of $177.53 million during the quarter.

Insider Buying and Selling at Wheels Up Experience

In related news, CEO of Air Partner Mark Briffa sold 28,717 shares of the stock in a transaction on Thursday, March 13th. The shares were sold at an average price of $1.06, for a total value of $30,440.02. Following the transaction, the insider now directly owns 1,090,971 shares of the company's stock, valued at $1,156,429.26. This trade represents a 2.56% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Insiders own 0.13% of the company's stock.

About Wheels Up Experience

Wheels Up Experience Inc provides private aviation services in the United States and internationally. The company offers Wheels Up Membership program that consists of two primary membership categories, such as Individual membership for individual and business fliers; and UP for Business membership consists of small and medium enterprise, and custom enterprise solutions for business fliers that tend to spend at higher levels.